Samsung profits slump, handset revenues dip

SEOUL, South Korea-Samsung Electronics Co. Ltd. reported slumping profits and an 8-percent decline in handset revenues. The company said it sold 12 million mobile phones in the second quarter.

The lowered numbers come as the economy continues its slowdown and the SARS virus continues to affect China and other mobile-phone markets.

However, Samsung said it plans to release 20 new mobile phones in the second half of this year in order to bolster sales, according to reports.